One of the most pressing issues of our time, the topic of Environmental, Social, and Corporate Governance (ESG), sits at the intersection of stewardship and steward leadership. Today, businesses are being challenged not just to turn a profit, but also to fulfill a broader societal purpose. The interconnectedness of our planet, people, economy, and businesses is undeniable, solidifying the case for ESG and stewardship integration into all facets of business operations. At the forefront of this movement, City Developments Limited's (CDL) Chief Sustainability Officer, Esther An, shares invaluable insights in a video snippet taken during the 2022 Stewardship Commons, on the ESG pillars that guide the work of CDL.
The first pillar of CDL's ESG strategy, as outlined by An, is integration. This reflects steward leadership by embedding ESG principles into the corporate structure from the ground up. Steward leaders act as custodians of the business, ensuring sustainability is not just an afterthought, but a guiding principle that permeates all levels of the organisation.
The second pillar, innovation, emphasizes the importance of adaptive leadership in the face of a growing climate emergency. Steward leaders are called upon to go beyond mere risk mitigation; they must foster an environment of innovation, seeking out sustainable technologies and solutions that mitigate environmental impacts.
Investment, the third pillar, underscores the role of businesses as stewards of resources. It involves investing not just in technology and solutions, but also in the community. By directing resources towards societal development, businesses can play a pivotal role in driving sustainable changes.
The final pillar, impact, is at the heart of steward leadership. It emphasises accountability and responsibility, requiring businesses to be mindful of their impact on society and the environment. Steward leaders understand that their role goes beyond satisfying investors and financiers; they are also accountable to a wider range of stakeholders.
The video crystallises the essence of steward leadership in the context of ESG principles. It's a rallying call for businesses to step up, adopt a stewardship mindset, and champion sustainable practices. This video is a must-watch for businesses, executives, and anyone interested in understanding the integral relationship between ESG principles, stewardship, and steward leadership.
Posted 25 May 2023
